Poolman's Account Talk

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Wow, Poolman! - does this guy have a reputable history?
The information sounded very solid.
...then I have to ask: "but what do I do with it???"
Thank you for sharing.
 
grandma said:
Wow, Poolman! - does this guy have a reputable history?
The information sounded very solid.
...then I have to ask: "but what do I do with it???"
Thank you for sharing.
Click to expand...

Hi Grandma,

Yes Don Harrold is a good man. He is very good at investing and runs his own Financial Trading Program. He has his own site and youtube channel both posted below.

Don has been on the INTERNET about 2 1/2 years. He is someone I respect. He wants you to invest in Gold and Foreign overseas markets. There are Brokerages which you can buy overseas stocks. You would have to research this. Gold you can buy from different companies on the INTERNET which I am not doing but I know Don knows which sites are best. :)


http://www.donharrold.net/

http://www.youtube.com/user/donharrold
 
Thanks for the vids Poolman, very informative. Sounds like there may be another entry point in the next couple of weeks, possibly even late next week. Will be interesting to see how it plays out. Also looking forward to Don's next commentary...his more likely scenario in the next 2-3 years is pretty dire.
 
China playing with their currency is getting the rest of the world rather upset. It keeps their products low in price, and no one else's. But it is one of the last bastions of control the Party has, so it won't float, and they won't adjust until they absolutely have to. Really, what's happening is the dollar is falling against all currencies...except the one it really needs to fall against.:mad: And until the cork pops and China does a re-adjustment (IF they do a reasonable one), I predict the dollar will continue to fall. This will make U.S. made goods less expensive, but makes imported materials and everyone else's products expensive - worst of all will be oil because its denominated in dollars and sold by countries who don't want to be paid in falling dollars.

BTW, China is throwing money at manufacturing to keep people working - can you say oversupply? So companies that have no business staying in business just continue on the dole - and unlike GM these aren't loans - which means no incentive to actually make their products competitive. So quality is going down.
 
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Silverbird said:
China playing with their currency is getting the rest of the world rather upset. It keeps their products low in price, and no one else's. But it is one of the last bastions of control the Party has, so it won't float, and they won't adjust until they absolutely have to. Really, what's happening is the dollar is falling against all currencies...except the one it really needs to fall against.:mad: And until the cork pops and China does a re-adjustment (IF they do a reasonable one), I predict the dollar will continue to fall. This will make U.S. made goods less expensive, and everyone else's products expensive - worst of all will be oil because its denominated in dollars and sold by countries who aren't denominated in dollars.

BTW, China is still throwing money at manufacturing to keep people working - can you say oversupply?
Click to expand...

When do you think the removal of the yuan peg would be best timed for the parties involved? Not from the pt of view of Main St., but by the Govt's and central banks?
 
Sigh...at this point there is no good time. I'd prefer sooner rather than later because the more China waits, the larger the shock is going to be.

I prefer a peg move right away, another peg move next year or sooner, a third peg move, then a release. But that's not going to happen - China will hold on for now, all indications are they are NOT going to revalue soon, they want to wait until the Chinese economy is stable again. Unfortunately with China and the US in a three legged currency race I have no idea how that is going to occur. Hopefully they don't wait so long that instead of a "peg" the whole mess falls in because they have no more money to buy the dollars. That's what I'm afraid of. Revaluation through shock value.
 
A removal of the fixed yuan will probably coincide with the end of the bearish dollar trade... I don't see that happening until the markets are at an almost self-sustainable level. That's just my wild ass guess though.
 
I see peg moves, but not release of the Yuan until the next generation of leaders comes into power in China.:notrust: And mine is a wild-ass guess too.
 
Silverbird said:
China playing with their currency is getting the rest of the world rather upset. It keeps their products low in price, and no one else's. But it is one of the last bastions of control the Party has, so it won't float, and they won't adjust until they absolutely have to. Really, what's happening is the dollar is falling against all currencies...except the one it really needs to fall against.:mad: And until the cork pops and China does a re-adjustment (IF they do a reasonable one), I predict the dollar will continue to fall. This will make U.S. made goods less expensive, but makes imported materials and everyone else's products expensive - worst of all will be oil because its denominated in dollars and sold by countries who don't want to be paid in falling dollars.

BTW, China is throwing money at manufacturing to keep people working - can you say oversupply? So companies that have no business staying in business just continue on the dole - and unlike GM these aren't loans - which means no incentive to actually make their products competitive. So quality is going down.
Click to expand...

Sorry to barge in Poolman .....

...but this is incredible !! and if I'd seen this before would have made this 'The Post of the Week' or at least split it with Birch's.

Anyway -- doing a quick scan for the gold nuggets.
 
Sorry to butt in but whats this "peg" stuff? Maybe a link to a web site that explains it would be great. Thanks. :o
 
KevinD said:
Sorry to butt in but whats this "peg" stuff? Maybe a link to a web site that explains it would be great. Thanks. :o
Click to expand...
oh...sorry.

Explanation: China's currency is not offered on the open market (you can not buy Chinese currency and there is no renminbi/yuan market). By buying dollars, China currently keeps the exchange rate at around 6.8 yuan to the dollar - and they've kept it there since mid 2008. So the "peg" is at 6.8 yuan to the dollar and it doesn't move, as long as China keeps buying dollars to keep it there (since no one else can buy yuan and thus increase the value of China's currency, they are in the driver's seat). Explanation of the effects of this policy on other countries spelled out in the article I posted in day to day market talk http://jubakpicks.com/2009/11/12/tal...ncy-is-coming/

Adding to the confusion - the currency is often called Yuan, the old term, instead of the official name renminbi because the official name is harder to say (or in my case, spell).
 
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